VA Loans.

​The Department of Veterans Affairs (VA) guarantees loans provided by Stanford Capital to help qualified veterans, reservists, and active-duty service members finance their homes. 

VA loans offer these features:

• A no down payment option.

• Flexible income, debt and credit requirements to help borrowers qualify.

• Down payment and closing costs that may be funded by a gift, grant or secured loan.

• A variety of fixed-rate and adjustable-rate loan options from Florida Home Finance Group.

VA IRRRL Refinance.

A VA Interest Rate Reduction Refinance Loan (IRRRL) will lower the interest rate on your existing VA home loan, decreasing your monthly mortgage payment.  

IRRRL Facts:

• No appraisal or credit underwriting package is required when applying for an IRRRL.

• An IRRRL may be done with no money out of pocket.

• When refinancing from an existing VA ARM loan to a fixed rate loan, the interest rate may increase.

• You may NOT receive any cash from the loan proceeds.

Eligibility:
An IRRRL can only be made to refinance a property on which you have already used your VA loan eligibility. It must be a VA to VA refinance, and it will reuse the entitlement you originally used.

• A Certificate of Eligibility (COE) is not required. If you have your Certificate of Eligibility, take it to the lender to show the prior use of your entitlement.

• No loan other than the existing VA loan may be paid from the proceeds of an IRRRL. If you have a second mortgage, the holder must agree to subordinate that lien so that your new VA loan will be a first mortgage.

• You may have used your entitlement by obtaining a VA loan when you bought your house, or by substituting your eligibility for that of the seller, if you assumed the loan.

​VA Funding Fee:
​You do not have to pay the fee if you are:

• Veteran receiving VA compensation for a service-connected disability.

• Veteran who would be entitled to receive compensation for a service-connected disability if you did not receive retirement or active duty pay, OR

• Surviving spouse of a Veteran who died in service or from a service-connected disability.